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In this seminal work, U.S. development specialist Robin Broad chronicles the Philippine experiment with the structural adjustment model of development espoused by the World Bank and the International Monetary Fund.

Robin Broad is a resident associate at the Carnegie Endowment for International Peace and an international affairs fellow of the Council on Foreign Relations.

"An excellent book. . . . [It] provides a unique picture of the processes of globalist institution transformation in a crucial, less developed country."—John Willoughby, American University